The evolution of Brazilian real gross domestic product in the post-World War 11 pericd has leen far from scable. Some of this instability is almost cercainly due to the impacts of external shocks. In this paper we examine three such shocks, or interventicns, which seem to have had particular1y pronounced in:pacts on tte Brazi1ian economy. These are the political upheavals and attendant economic reforms of the ear1y 1960's, and the oil shocks of 1973 and 1979. We build a time series model, which permits the analysis of interventions, for annual Brazilian real gross domestic product, and use this model to estimate the impacts of these interventions .
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